NFX, an Israeli-American venture capital firm that focuses on pre-seed and Seed investments, announced the launch of NFX Bio - the new investment arm led by Venture Partner Dr. Omri Amirav Drory. Founder and CEO of Twist Bioscience, Emily Leproust Ph.D., will join the NFX Bio team as an advisor.
Synthetic DNA funding
According to the VC fund’s announcement, NFX Bio will continue the pre-seed and Seed investment focus. Although just recently announced, the fund has already invested in a number of companies, including Twist Bioscience - a synthetic DNA producer founded in 2013, and is currently traded at $8.5 billion; and Mammoth Bioscience, a CRISPR platform founded by Trevor Martin and Jennifer Doudna - a CRISPR pioneer and Noble award winner, who also received funding from British GKS.
Regarding the launch of the new Bio fund, the new addition to the NFX team, Dr. Amir Drory, who previously founded Genome Complier, explained: “Many years ago, NFX invested in me as a founder, and now I’m joining them to offer that same opportunity to other entrepreneurs. Drory added: “The similarity between the entrepreneurs we invest in is that we run the companies ourselves, and therefore know how to bridge the science to business. We are both founders and scientists. We have developed new methods in biology, and helped companies grow to billion-dollar companies.”
NFX founders, James Currier and Gigi Levy-Weiss, will join the NFX Bio advisory board. Ten months ago, during the initial peak of COVID mayhem, NFX announced that it would provide entrepreneurs and startups that applied for funding with a final answer within 9 days, and if it’s a go, then the funding would be transferred within 3 weeks.